Savers Value Village, owned by private equity firm Ares Management Corp, plans to sell up to 18.8 million shares at $15 to $17 apiece, regulatory filings showed
Based in Bellevue, Washington, Savers Value Village is one of the largest retailers of secondhand clothing, books, toys, shoes and household goods, with 317 stores in the United States and Canada. Revenue totaled $1.44 billion in 2022, up 19% from the prior year, while net income was flat at $84.7 million.
Ares Management will retain an 88% stake in Savers Value Village after the IPO. The company said two large institutional investors, Canada’s Ontario Pension Plan and Norway’s Norges bank Investment Management, have indicated interest in buying up to $130 million worth of the shares. J.P. Morgan, Jefferies, Goldman Sachs, and UBS are the lead underwriters for the IPO, which will be listed on the New York Stock Exchange under the ticker “SVV.”
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